Australia’s Ten Most Expensive Legal Tax Breaks

Australia’s Ten Most Expensive Legal Tax Breaks

expensive tax breaks

The Commonwealth Treasury’s 2016 Tax Expenditures Statement (published in January 2017) shows Australia’s ten most expensive tax breaks are:

  1. Main residence exemption from CGT: $61.5 billion.
  2. Concessional taxation of superannuation earnings $16.9 billion.
  3. Concessional taxation of superannuation contributions $16.9 billion.
  4. CGT discount for individuals and trusts $9.6 billion.
  5. GST exemption for fresh food $6.9 billion.
  6. GST exemption for education $4.5 billion.
  7. GST exemption for health services $4 billion.
  8. GST exemption for financial services $3.9 billion.
  9. Concessional taxation of termination benefits $2.6 billion.
  10. Exemption from interest withholding tax on securities $2.3 billion.
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